By Chris Mark
The Organisation of Oil Exporting Countries (OPEC) has handed pass marks to Nigeria and other member countries over their conformity with the crude oil production quota for November and December 2024.
The evaluation, which was carried out during the 58th Meeting of the OPEC Joint Ministerial Monitoring Committee (JMMC), showed that OPEC and non-OPEC countries under the Declaration of Cooperation (DoC) strictly adheres to the agreed production quotas.
The Nigerian Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, who participated in the meeting, confirmed that the meeting reviewed the crude oil production data for November and December 2024.
According to him, “The committee noted the high overall conformity among OPEC and non-OPEC countries under the Declaration of Cooperation (DoC), reaffirming our collective commitment to stability and cohesion in the global oil market.”
Lokpobiri also said Nigeria remains steadfast in upholding its obligations under the DoC, recognizing the importance of collaboration in ensuring market balance and long-term sustainability.
According to him, ” Our commitment aligns with our broader objective of transforming the oil sector to maximize production while maintaining compliance with agreed frameworks.”
“As we continue on this path, we remain dedicated to optimizing our resources and enhancing efficiency within the sector as we contribute meaningfully to global energy stability while advancing national economic growth.”
